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Renewable energy: Mr Gon Chaudhuri, Managing Director of WBGEDC, and Mr Sasi Chodagam, Director - Business development of Titan Energy Systems Ltd, exchanging the agreements in the presence of Mr Mrinal Banerjee, Minister-in-charge for Power, West Bengal, on Saturday in Hyderabad.

Our Bureau

Hyderabad, Aug. 9 Titan Energy Systems Ltd, with support from Beck Energy, Germany, will build the country’s first large-scale, grid-connected solar power plant in West Bengal.

The Rs 36-crore, 2-MW power plant will come up at Jamuria, near Asansol. A Letter of Intent was signed here on Saturday between Titan Energy and the West Bengal Green Energy Development Corporation (WBGEDC).

While the Power Finance Corporation (PFC) will invest Rs 31 crore in the project, WBGEDC will put in the balance Rs 5 crore. The first phase is expected to be completed by December 2008 and the complete 2 MW installed by March 2009.

The project is also the first large-scale, grid-connected solar power plant approved under the recently announced Ministry of New and Renewable Energy (MNRE) feed-in tariff programme for solar electricity.

Announcing the award of the contract to Titan Energy, a Hyderabad-based company, Dr Mrinal Banerjee, Minister-in-charge for Power, West Bengal, told newspersons here that his Government has been pro-active in the renewable energy sector. “We have come out with incentives, tariff to promote renewable energy. Already, proposals to establish 20-MW solar power have come from Indian companies,” he added.

The West Bengal Government has taken a policy decision to have 10 per cent of total power from renewable energy by 2012. By 2010, it expects projects to the tune of 50 MW of grid-connected solar power to come in.

Mr Gon Chaudhuri, Managing Director, WBGEDC, said the solar power produced from the plant would be totally purchased by DPSC, a power utility, at Rs 5 per kWh . A subsidy of Rs 10 per kWh would be provided by the MNRE.

A 10-year power purchase agreement has been signed. The payback is expected after 9-10 years. The life of the power plant is 25 years.

Mr Rao S.Y.S. Chodagam, Managing Director, Titan Energy, said the company will execute the project with the help of Beck Energy, a leader in the field. The company exported 15-20 MW to Germany and Spain and its order book is full for the next three years.

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